Can I retire at age 56 with 2,290,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$189,106$187,422$185,778$184,174$182,608$178,848
2 years$93,617$91,873$90,184$88,545$86,956$83,185
3 years$61,791$60,040$58,355$56,732$55,169$51,504
4 years$45,882$44,136$42,467$40,872$39,347$35,817
5 years$36,338$34,603$32,956$31,394$29,911$26,526
6 years$29,978$28,256$26,634$25,106$23,667$20,431
7 years$25,437$23,729$22,133$20,641$19,248$16,161
8 years$22,033$20,340$18,770$17,315$15,968$13,029
9 years$19,386$17,710$16,167$14,749$13,447$10,655
10 years$17,270$15,611$14,095$12,713$11,458$8,809
11 years$15,540$13,897$12,409$11,065$9,854$7,345
12 years$14,100$12,473$11,012$9,705$8,539$6,167
13 years$12,882$11,272$9,839$8,568$7,446$5,206
14 years$11,838$10,246$8,840$7,606$6,528$4,415
15 years$10,935$9,360$7,982$6,783$5,747$3,759
16 years$10,146$8,588$7,236$6,073$5,080$3,210
17 years$9,450$7,909$6,585$5,457$4,504$2,748
18 years$8,832$7,308$6,011$4,918$4,005$2,358
19 years$8,279$6,773$5,503$4,444$3,569$2,027
20 years$7,783$6,294$5,050$4,025$3,188$1,746
21 years$7,334$5,863$4,645$3,653$2,853$1,505
22 years$6,927$5,472$4,281$3,321$2,557$1,299
23 years$6,556$5,118$3,953$3,025$2,296$1,123
24 years$6,216$4,796$3,656$2,759$2,063$971
25 years$5,904$4,500$3,386$2,519$1,857$840
26 years$5,616$4,230$3,140$2,303$1,673$728
27 years$5,350$3,981$2,916$2,108$1,508$631
28 years$5,104$3,751$2,711$1,932$1,361$547
29 years$4,875$3,539$2,523$1,771$1,229$474
30 years$4,661$3,342$2,350$1,626$1,110$411
31 years$4,462$3,159$2,191$1,493$1,004$357
32 years$4,276$2,989$2,044$1,372$908$310
33 years$4,101$2,831$1,908$1,262$822$269
34 years$3,937$2,683$1,783$1,161$744$234
35 years$3,783$2,545$1,667$1,069$674$203
36 years$3,637$2,415$1,560$984$610$176
37 years$3,500$2,294$1,460$907$553$153
38 years$3,370$2,180$1,367$836$502$133
39 years$3,247$2,073$1,281$771$455$116
40 years$3,131$1,972$1,200$711$413$101
41 years$3,020$1,877$1,126$656$374$87
42 years$2,916$1,788$1,056$605$340$76
43 years$2,816$1,704$991$559$308$66
44 years$2,721$1,624$930$516$280$57
45 years$2,630$1,549$873$477$254$50
46 years$2,544$1,477$820$440$231$43
47 years$2,462$1,410$771$407$209$38
48 years$2,383$1,346$724$376$190$33
49 years$2,308$1,285$681$347$173$28
50 years$2,236$1,228$640$321$157$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,290,000, adding $6,384 every year, while hoping to spend $45,096 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 52/36/12 Blend
55$2,290,000$2,290,000$2,290,000$2,290,000
56$2,530,165$2,408,795$2,373,300$2,653,388
57$2,740,260$2,478,844$2,404,824$2,808,220
58$2,970,273$2,550,814$2,435,892$2,971,172
59$3,222,189$2,624,752$2,466,442$3,147,356
60$3,498,192$2,700,705$2,496,408$3,338,036
61$3,800,688$2,778,720$2,525,718$3,544,599
62$4,132,328$2,858,847$2,554,300$3,768,574
63$4,496,031$2,941,135$2,582,073$4,011,642
64$4,895,010$3,025,635$2,608,957$4,275,653
65$5,332,807$3,112,397$2,634,863$4,562,647
66$5,813,323$3,201,474$2,659,701$4,874,866
67$6,340,853$3,292,918$2,683,372$5,214,779
68$6,920,130$3,386,781$2,705,775$5,585,107
69$7,556,368$3,483,117$2,726,803$5,988,844
70$8,255,309$3,581,982$2,746,342$6,429,287
71$9,023,280$3,683,428$2,764,274$6,910,068
72$9,867,250$3,787,512$2,780,473$7,435,187
73$10,794,899$3,894,290$2,794,809$8,009,048
74$11,814,686$4,003,817$2,807,142$8,636,503
75$12,935,930$4,116,150$2,817,327$9,322,897
76$14,168,900$4,231,346$2,825,212$10,074,116
77$15,524,908$4,349,463$2,830,637$10,896,645
78$17,016,419$4,470,556$2,833,433$11,797,626
79$18,657,164$4,594,684$2,833,424$12,784,930
80$20,462,275$4,721,904$2,830,425$13,867,226
81$22,448,424$4,852,274$2,824,240$15,054,064
82$24,633,977$4,985,850$2,814,666$16,355,968
83$27,039,176$5,122,689$2,801,490$17,784,530
84$29,686,319$5,262,848$2,784,488$19,352,523
85$32,599,979$5,406,383$2,763,424$21,074,020
86$35,807,231$5,553,350$2,738,052$22,964,526
87$39,337,907$5,703,802$2,708,115$25,041,126
88$43,224,879$5,857,795$2,673,343$27,322,645
89$47,504,370$6,015,379$2,633,453$29,829,823
90$52,216,291$6,176,609$2,588,149$32,585,514
91$57,404,622$6,341,532$2,537,122$35,614,903
92$63,117,824$6,510,198$2,480,046$38,945,737
93$69,409,298$6,682,653$2,416,584$42,608,593
94$76,337,886$6,858,943$2,346,379$46,637,163
95$83,968,429$7,039,109$2,269,060$51,068,574
96$92,372,375$7,223,192$2,184,240$55,943,736
97$101,628,457$7,411,228$2,091,513$61,307,730
98$111,823,435$7,603,253$1,990,453$67,210,232
99$123,052,909$7,799,296$1,880,617$73,705,985
100$135,422,229$7,999,386$1,761,541$80,855,310